Eastern China’s largest private ferrous scrap consumer and EAF steelmaker – Shagang Jiangsu Steel group has declared a price cut by RMB 30/t ($ 4) for all grades of domestic steel scrap procurement. The price cut comes after almost a gap of 12 days and the new prices are effective from today, 18th June’20.
The purchase price for HMS (6-10 mm thickness) now stands at RMB 2580/t ($ 365), inclusive of 13% VAT, delivered to headquarters works situated in Zhangjiagang North of Shanghai in China, in comparison with the last revision to RMB 2610/t on 5th June’20.
While other higher grades including HMS (thickness not less than 20 mm) and HMS (10-20 mm thickness) stand at RMB 2,660/t ($ 376) and RMB 2,620/t ($ 370) respectively.
After a sharp rebound by over RMB 300 in April (on tight availability), prices since mid-May ’20 have been mostly oscillating in the same range, with supply still on slower side and demand average, while fluctuations in the finished steel prices moving the scrap purchase prices in the region.
In the near term, prices should move in this range with no sharp trends in either direction expected.
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